10 Small–Cap Stocks Insiders Are Selling Recently

3. Travere Therapeutics, Inc. (NASDAQ:TVTX)

Number of insiders selling: 8

Market capitalization: $1.899B

Travere Therapeutics is another biopharmaceutical company developing therapeutics for rare diseases among 10 small-cap stocks that insiders have been selling recently. Its main focus is treatments for rare kidney and metabolic diseases. The company’s lead drug candidate, sparsentan, has obtained U.S. Food and Drug Administration (FDA) approval for slowing kidney function decline.

Earlier this month, Travere Therapeutics announced it has completed its Type C meeting with the FDA and plans to submit a supplemental New Drug Application (sNDA) seeking traditional approval of filspari for focal segmental glomerulosclerosis (FSGS). The sNDA will be based on existing data from the Phase 3 DUPLEX and Phase 2 DUET studies of filspari and is expected to be submitted around the end of the first quarter of 2025.

For the third quarter of 2024, Travere Therapeutics reported net product sales of $61 million, compared to $33.9 million for the same period in 2023. The increase is attributable to sales from the ongoing commercial launch of filspari.

In January and the beginning of February, eight insiders, among which are CEO, CFO, and CMO sold around $2.97 million worth of Travere Therapeutics shares at an average price of $19.61 per share. The stock is currently trading at $23.72 per share, having gained 36.17% since the beginning of the year.

According to data from MarketBeat, 14 Wall Street analysts have a consensus rating of “Moderate Buy” on Travere Therapeutics stock. The average price target is $27.77, indicating a forecasted upside of 17.07% from the current price.